Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.

Lear Corp. (NYSE: LEA) reported Q3 EPS of $3.19, $0.23 better than the analyst estimate of $2.96. Revenue for the quarter came in at $4.5 billion versus the consensus estimate of $4.47 billion.

"Our sales and earnings growth, which continue to outpace the industry, reflect the investments that we have made to strengthen our product capabilities and improve our cost structure. In Seating, our unique capabilities continue to drive market share gains. In E-Systems, we are extremely well positioned to capitalize on the rapidly growing vehicle communication and connectivity mega-trend. In addition, we offer hybrid and high-power electrical systems, including 48-volt architectures, as well as industry-leading vehicle battery charging capabilities. Combined with our low-cost footprint and strong capital structure, these product capabilities provide Lear with a competitive advantage and will continue to drive sales and earnings growth well into the future," said Matt Simoncini, Lear's president and chief executive officer.

Lear is increasing its full year 2016 financial guidance for earnings and cash flow based on our strong year-to-date performance and outlook for the remainder of the year.

The Company's 2016 financial outlook is based on industry vehicle production assumptions of 17.9 million units in North America, up 2% from the prior year, 22.2 million units in Europe and Africa, up 3% from the prior year, and 24.2 million units in China, up 8% from the prior year. Lear's financial outlook is based on an average full year exchange rate of $1.11/Euro.

Sales in 2016 are expected to be $18.6 billion, consistent with the Company's prior guidance. Core operating earnings are expected to be in the range of $1.50 billion to $1.525 billion, up from the prior range of $1.45 to $1.50 billion. Net cash provided by operating activities is expected to be $1.525 billion and capital spending is expected to be $525 million, resulting in free cash flow of approximately $1.0 billion, an increase of $100 million from the prior guidance.

The Company's effective tax rate is expected to be 27%, compared to 28% in the prior outlook. Adjusted net income is expected to be in the range of $980 million to $1.0 billion, up from the prior range of $935 million to $975 million.

Pretax operational restructuring costs are estimated to be $70 million, and depreciation and amortization expense is estimated to be $375 million, both unchanged from the prior outlook.

For earnings history and earnings-related data on Lear Corp. (LEA) click here.